Seed investment and innovation platform Venture Catalysts (VCats) has announced a seed investment of $250,000 into Don’t Scratch Your Head (DSYH). The start-up has been accelerated at Reliance Industries Ltd (RIL)’s GenNext Hub.
DSYH is a software-as-a-service (SaaS)-based logistics reconciliation platform for e-commerce channels.
The $250,000 fresh investment is led by Gaurav Singhvi, managing partner, VCats Surat, and Mumbai-based Zaffiro Ventures.
Ahmedabad-based DSYH is a next-generation data analytics SaaS start-up in the reconciliation space across multiple sectors, and currently focusing on the e-commerce sector. The company allows sellers associated with multiple marketplaces to reconcile accounts, payments, returned orders, promotional amounts through a single window.
Since the launch of its operations, the company has reconciled about 500,000 orders, with gross merchandise value (GMV) of $7 million through its platform. It identified between five and seven per cent of GMV as avoidable reclaimable charges per user.
Also Read
Apoorv Ranjan Sharma, co-founder, VCats, said: “DSYH, with its innovative SaaS-based platform, has been developing the first-of-its-kind technology to identify and address the real-time logistics reconciliation challenges of Indian e-commerce sellers. Moreover, with an energetic, enthusiastic and experienced team at the helm of its operations, the venture is well poised to create a huge market impact with its product.”
The VCats has, so far, enabled about nine investments worth $1.5 million in start-ups such as vPhrase Analytics, Vahanalytics, Siftr and ConfirmTKT since the launch of its operations in 2015. It invests $100,000-$250,000 in very early stage start-ups having a growth potential.
DSYH Chief Executive Officer Suraj Vazirani said the funding would allow it to upgrade its technological infrastructure and customer support team to enhance the business growth.
Prior to the investment from VCats, DSYH was being accelerated at RIL’s GenNext Hub and powered by Microsoft Accelerator India.
